This Legal and Privacy Agreement (“Agreement”) governs the terms under which companies (“Company”) may use the PeerGuard platform (“Platform”) to enable employees to access loans. By signing up for an account, the Company agrees to the terms and conditions outlined herein.

1. Company Obligations

   1. Loan Remittance and Repayment

      1. The Company agrees to facilitate the remittance of employee loan repayments from their salaries to PeerGuard, as per the loan terms agreed between PeerGuard and the employee.

      2. The Company acknowledges that it will be responsible for ensuring the accurate and timely deduction and transfer of repayments in line with the repayment schedule provided by PeerGuard.

      3. In the event that the Company does not remit the employee loan repayments as agreed, the Company may be held liable for any penalties or outstanding amounts resulting from the delay or non-remittance.

   2. Notification of Employee Departure

      1. The Company agrees to notify PeerGuard immediately by indicating on the platform in the event of an employee’s resignation, termination, or any other form of departure from the Company within 3 business days of the employee’s exit.

      2. If the Company fails to notify PeerGuard of an employee’s departure within the agreed timeframe, the Company will be responsible for any outstanding loan amounts not recovered from the departing employee.

   3. Activation of Guarantor Liability

      1. In cases where an employee is unable to repay their loan due to termination or other circumstances, the Company agrees to cooperate with PeerGuard in activating the peer guarantee system, where guarantors will assume the responsibility of repayment.

      2. The Company acknowledges that guarantor liability will only be triggered if the primary borrower (employee) defaults on the loan, and the employee's departure or termination will not absolve the guarantor’s responsibility.

2. Data Protection and Privacy

   1. Collection and Use of Company Data

      1. PeerGuard will collect certain data from the Company, including but not limited to employee details, salary information, and repayment schedules, to facilitate the operation of the Platform.

      2. All data collected will be used solely for the purposes of managing and enforcing loan agreements, repayments, and guarantor obligations, in compliance with applicable data protection laws.

      3. The Company agrees to provide accurate and up-to-date information to PeerGuard, including employee data necessary for loan processing. The Company will ensure that the data provided complies with applicable data protection regulations, including obtaining consent from employees where necessary.

   2. Data Sharing

      1. The Company agrees that PeerGuard may share relevant data with third parties, including financial institutions, to facilitate loan transactions, guarantor agreements, and debt recovery, where applicable.

      2. PeerGuard will not share any Company or employee data with third parties for marketing purposes without prior consent.

   3. Data Security

      1. PeerGuard is committed to maintaining the confidentiality, integrity, and security of the Company’s data. PeerGuard will implement reasonable security measures to protect the Company’s data from unauthorized access, loss, or misuse.

      2. In the event of a data breach, PeerGuard will notify the Company promptly and will take appropriate measures to mitigate the impact of the breach.

3. Termination

   1. Termination by Company

      The Company may terminate this Agreement at any time by deactivating its account on the Platform. However, any outstanding obligations related to loan repayments, notifications of employee departure, or guarantor liability shall remain in effect until fully resolved.

   2. Termination by PeerGuard

      PeerGuard reserves the right to suspend or terminate the Company’s access to the Platform in the event of non-compliance with the terms of this Agreement, including failure to remit loan repayments or notify PeerGuard of employee departures.

4. Limitation of Liability

   PeerGuard’s liability under this Agreement shall be limited to direct damages arising from its negligence or willful misconduct. In no event shall PeerGuard be liable for any indirect, consequential, or incidental damages, including but not limited to loss of profits, loss of business opportunities, or reputational damage.

5. Governing Law and Dispute Resolution

   This Agreement shall be governed by and construed in accordance with the laws of Nigeria. Any disputes arising from or related to this Agreement shall be resolved through arbitration in Nigeria.

6. Acceptance of Terms

   By registering on the Platform, the Company acknowledges that it has read, understood, and agreed to be bound by the terms of this Agreement.